The authorities are far more concerned with the issue of Inheritance Tax, another area that we intend to tackle in a future article.
Firstly, find out how much you are allowed.
This also applies to foreign citizens who have assets in Spain unless they make a will.
Foreign exchange is not a regulated industry, so check you are dealing with a reputable, well-established broker before parting with any money. Other hotspots include Cape Verde, Brazil and the Western Algarve in Portugal. Prices have risen exponentially, but, more remarkably, the spread of foreign buyers has reached further and further into the interior.
The landscape is in places rugged and craggy with deep ravines; in other areas almond groves cover the hills. Tourists have rediscovered the appeal of Spain and recovered its legion of sun worshippers and sangria drinkers. The major Costa Del Sol agents are now in towns such as Loja, Comares and Antequera; soon they'll be in Espejo and Cordoba. But make sure you ignore those overseas-property TV shows that only present the sunny side of buying abroad, and do your research carefully.
Trooping on to the bus, the Anglos - consisting of Australians, Americans, Canadians, and myself as sole Brit - were immediately assigned to nervous-looking Spaniards for the duration of the journey. What guarantees do you have if your developer goes bust?
The cobbled streets now echo with "hellos" instead of "holas", and the old stone cottages have been renovated to provide smart accommodation. Many buyers hope to help cover the costs by renting out their property to holidaymakers or locals, with a buy-to-let mortgage. The event will herald a new era for the coast, which has traditionally promoted festivals and artists aimed at an older age group. It was also a chance for the more budget-conscious holidaymakers to save a bundle while staying for free in a beautiful Spanish hamlet. All around me, less fortunate participants struggled to make themselves understood to their Spanish students. One word of warning; if buying land, use a lawyer to check what the regulations are, because most new building is now prohibited. Secondly, what is the property to be used for? The landscape is in places rugged and craggy with deep ravines; in other areas almond groves cover the hills.
So meals, activities, and the accommodation aim to be highly typical of the surrounding area.